Philip Day’s Peacocks nears deal to buy Bonmarche out of administration November 28, 2019 Womenswear retailer Bonmarche is close to being bought out of administration by rival firm Peacocks, in a deal that could see 30 stores close before Christmas. Peacocks, which is owned by billionaire businessman Philip Day, has been named the preferred bidder for the embattled retailer, administrator FRP Advisory said this morning. However, negotiations are ongoing [...]
Ocado to build sixth warehouse as online grocer accelerates growth November 28, 2019 Online supermarket Ocado has announced it will build a sixth warehouse in the UK as it ramps up its growth plans. The new warehouse in Bristol will be the company’s first “mini” customer fulfilment centre, with the capacity for more than 30,000 orders per week compared to the 85,000 orders per week expected at the [...]
Model railway brand Hornby narrows losses after putting brakes on discounting November 28, 2019 Model railway brand Hornby narrowed its losses in the first half of the year as the company ramped up full-price sales and put the brakes on discounting. The figures The company reported a loss after tax of £2.71m in the six months to 30 September, from a £3.23m loss the previous year. Read more: Hornby [...]
Catalyst Capital Group makes rival bid for Saks owner Hudson’s Bay November 27, 2019 Catalyst Capital Group has made a rival bid to buy the owner of Saks Fifth Avenue, challenging an offer led by its chairman. Private equity firm Catalyst has offered $11 per share in cash for Canadian department store group Hudson’s Bay Company, in an offer that values the company at C$2.03bn (£1.18bn). Read more: Saks [...]
Virgin Active and Iceland investor Brait to offload assets November 27, 2019 South African investment firm Brait, which owns stakes in New Look, Iceland and Virgin Active, has announced a financial restructuring plan that will see it offload its assets. Shares in the Johannesburg-listed company plunged more than 15 per cent after it unveiled plans to sell off its assets in a bid to reduce debts and [...]
London house prices finally show ‘signs of life’ in one per cent October rise November 27, 2019 London house prices started to show “signs of life” last month due to renewed buyer demand and a shortage of property coming to the market. House prices in the capital grew one per cent year on year in October following a period of year-on-year price falls. In October 2018 London house prices dropped 1.1 per [...]
Traditional Christmas dinners ‘to cost more this year’ November 26, 2019 Buying a traditional Christmas dinner could set consumers back more than usual this festive season as issues with supplies have caused prices to increase. High summer temperatures has reduced the number of turkey eggs ,while flooding and rain have affected the supply of vegetables including Christmas dinner staples potatoes and Brussels sprouts. Read more: The [...]
Bovis Homes faces shareholder backlash over executive pay November 26, 2019 Housebuilder Bovis Homes is facing investor backlash over executive pay proposals as it prepares to approve a £1.1bn takeover of Galliford Try’s residential development arm. A number of institutional investors are preparing to vote against Bovis Homes’ long-term incentive plan (LTIP) and remuneration policy at a shareholder meeting next week, Sky News reported. Read more: [...]
Covent Garden JV writedown hurts Shaftesbury profit November 26, 2019 West End landlord Shaftesbury suffered a sharp drop in profit this year after taking a writedown on the value of a retail joint venture in Covent Garden. The figure Profit after tax fell from £175.5m to £26m due to the revaluation of the portfolio, which dipped 0.6 per cent to £4bn overall. However, the company’s [...]
UK mortgage lending dips as buyers hesitate due to Brexit uncertainty November 26, 2019 UK mortgage lending dipped in October as buyers hesitated due to economic and political uncertainty caused by Brexit and the upcoming General Election. Gross mortgage lending across the residential market last month was £25.5bn, a dip of 0.9 per cent compared to October 2018. Read more: New rules announced to help UK mortgage prisoners Mortgage [...]
